High Yield, High Risk

Why the boom in junk bonds will burst and the dire consequences of the fallout for pension funds, local and state governments, and individual investors.

You needn't be a climatologist to figure out why record high temperatures and fearsome droughts have enveloped most of the nation. Everything in creation has been blamed for this excruciating summer, from global warming to flatulent cows. Everything , that is, except the most obvious and likely cause -- the noxious exhalation of politicians.

Yes, yes, we're aware that politicians are always with us, but so, too, it follows, is atmospheric pollution. But in case you've forgotten (ah, if you only could, eh?), this is an...